China Outbound Travel Market
Discover the Rise of China Outbound Tourism as Preference for Scenic Locations such as Korea, Japan, the USA, the United Kingdom, Australia, and Italy Grows among Travelers!
China Outbound Tourism Market by Tourism Type, Age Group, Booking Channel, Tour Type & Region | Forecast 2022 to 2032
China Outbound Tourism Market Outlook (2022 to 2032)
The China outbound tourism market is estimated to reach US$ 184,201 Million in 2022, with sales projected to increase at a robust 14.1% CAGR between 2022 and 2032. Growth in the market is attributed to the growing expansion of the travel industry in China. As per the study, demand in the China outbound tourism market is predicted to surpass US$ 690,719 Million by 2032.
Digital technology is expected to have a significant impact on tourists in China. Significant smartphone users worldwide are from China, with statistics of over 600 Million. With package tours being viewed as inferior to independently-organized travel, destinations that haven't been visited by many Chinese or that have high prestige due to their marketing campaigns, and a greater understanding of tourist destinations around the world, Chinese people are becoming more prestigious about the type of trip they take.
Nearly half of the Chinese people use social networking sites, email, and instant messaging, and 83% have a personal area. Destinations and travel agencies will make more extensive use of digital technology. Combined with the Chinese public's increased social media usage, awareness, interest, and demand for travel will continue to rise.
A significant element boosting travel and tourism will be the growing urbanization of the Chinese people. By 2030, two-thirds of China's population currently residing in cities will do so. Large travel markets will be represented by the 170 second-tier cities, many of which were boosted by the Chinese stimulus package offering better transportation infrastructure and services. Major cities like Beijing, Shanghai, Guangzhou, and Shenzen will continue growing.
Chinese tourists are most satisfied with the air quality and natural environment when rating the outbound tourist destination's infrastructure, particularly in cities. Numerous people in China now travel overseas due to the relatively poor air quality at home in crowded regions. This is expected to aid the growth in the market as travelers in China prefer surroundings and air quality overseas.
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Attribute |
Details |
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China Outbound Tourism Market Estimated Size (2022) |
US$ 184,201 Million |
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Market Projected Size (2032) |
US$ 690,719 Million |
|
Market Value-based CAGR (2022 to 2032) |
14.1% |
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2017 to 2021 China Outbound Tourism Market Outlook Compared to 2022 to 2032 Forecast
As per Future Market Insights (FMI), China enjoys the benefit of being the largest outbound tourist market in the world, both in terms of departures and overall spending. The Chinese overseas market is distinguished by its rapid development, substantial size, extensive reach, and enormous potential. China's overseas market is currently the most significant source market in the world and has maintained double-digit, sometimes over 20% growth over the previous ten years.
The China outbound tourism market is expected to witness double-digit growth over the forecast period (2022 to 2032). Factors such as the low proportion of passport holders, the high quality of public and private travel services provided by destinations, tax refund policies, etc., will continue to support the demand in China's outbound tourism market.
Meanwhile, modern travelers are searching for authentic, local lifestyle experiences, especially in countries such as Africa, India, the USA, and Japan. Due to the rich outward travel experience and the wide use of intelligent communication, the China outbound tourism market is expected to witness an incredible growth rate over the upcoming decade.
What are the Key Factors Propelling the Growth in China Outbound Tourism Market?
Over the next decade, Chinese wages are anticipated to rise significantly, bringing their average level of income closer to that of affluent countries. According to Oxford Economics, 61 Million households can afford to travel overseas by 2023, cementing China's position as the top origin market.
The countries that account for a smaller fraction of Chinese outbound travel have the most potential for development in the future years. Due to improvements in China's income distribution, Chinese visitors will begin to have increasing value for international destination markets in the upcoming years.
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Talk to AnalystCountry-wise Insights
How is Korea Regaining the Interest of Chinese Outbound Travellers?
Korea to be the Most Affordable Outbound Tourism Destination
Despite being in recovery mode after a dramatic decline in Chinese inbound travel in 2017 due to geopolitical difficulties, Korean hotels, and casinos are expected to witness lucrative prospects. Chinese tourists consider Korea a desirable destination because of its accessibility and price. To recover as one of the most favored travel destinations for Chinese tourists, Korea plans to draw more visitors from smaller urban areas or lower-tier cities.
Category-wise Insights
Which type of Booking Channel is Most Preferred by Tourists?
Online Booking to Remain Highly Sought-After in terms of Sales Channel
Bookings are primarily made online, in keeping with the channels used to find travel-related information. More than 80% of Chinese FITs book flight tickets online thanks to the more advanced global distribution system (GDS). Few (5%) choose to book offline through travel agencies, and even fewer (3%) still make phone reservations. Further with the proliferation of online travel platforms and attractive offers available, the online booking segment is expected to witness the highest growth over the forecast period.
Which Tour Type will Create Maximum Demand in the China Outbound Tourism Market?
Rise in Number Of Independent Travellers to Boost China Outbound Tourism Market
Independent travelers are becoming more common in China, while package or group vacations are still quite popular. More than half of Chinese tourists take part in group trips, including customized tours, small-group excursions with friends, and semi-independent tours. Traditional package tours are popular with families, senior citizens, visitors from smaller cities, and travelers. Customized trips, such as private tour groups without outsiders, are also well-liked.
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Competitive Landscape
The top players around the world view china as a major market. They are using several strategies to attract more tourists. The tour companies are providing various packaged deals which include multiple tourist attractions that are preferred by most Chinese tourists.
For instance:
- Tuniu Corporation are providing several options for different destinations for travelers. They offer tailor-made tour packages as per the client’s needs. They offer air travel as well as cruise travel options which are included in their packages along with accommodation and amazing cuisine. Additionally, they also provide travel tips for particular regions on their website in order to fulfill their objective of complete guidance for their clients.
Tuniu Corporation, TUI China, And China Highlights Are Opening Up a New World of Opportunities to China Outbound Tourism
Companies in all industries are starting to see how tourism is a growing market for them and how their brands can benefit from that. And outbound tourism may be incredibly lucrative for companies that don't do business in mainland China.
Foreign travel companies, restaurants, retail shops and hotels, entertainment venues, and more are looking to Chinese outbound tourists as potential customers, which could mean a whole new stream of revenue for these businesses.
Tuniu Corporation is an online travel agency in China. Examples of goods and services are pre-packaged tours, hotel bookings, airline and train tickets, automobile rentals, and business travel.
Tuniu Corporation, a prominent online leisure travel firm in China, and HNA Tourism Group, one of HNA Group's three core industrial conglomerates, established a strategic alliance. HNA Tourism is anticipated to invest $500 million in Tuniu as part of the cooperation by purchasing Tuniu's newly issued Class A ordinary share.
In March 2019, Tuniu was listed on New York Stock Exchange and became the first Chinese online travel company to be listed in North America. Tuniu is a leading player in China's outbound tourism market, focusing on business-to-business (B2B) transactions. It offers a wide range of products and services, including tours, hotels, flights, packages, and other related services. Its customer base includes domestic and international customers from more than 200 countries and regions worldwide.
It had a total transaction volume of RMB 35 billion. The Group has a solid foundation, strong brand awareness, reputation, and diversified channels that connect customers directly to its tour products.
Another leading company TUI China Travel Co. Ltd. is a travel agency. The company offers inbound and outbound tours, awarding tours, and other services. The company launched some of its innovations and new products in 2019, including TUI Aircruise, TUI Cruise, and many other novels traveling products. The company has been exploring opportunities to improve its product offerings to generate additional revenues. In addition, it is also making efforts to tap into more outbound tourism markets by enhancing its market presence in various countries across Europe, North America, and Southeast Asia. As a result, it can be anticipated that these initiatives will positively impact its overall growth prospects.
TUI-China has signed a franchise agreement with GDCTS, the prominent travel operator in Guangdong province, to be its franchisee in China's most vibrant southern region.
Additionally, China Highlights is one of the leading China travel companies specializing in personalized and innovative China tours. As the China travel agency with the most favorable TripAdvisor reviews, the company has an unrivaled reputation. We exist to help you explore China in your unique manner.
China Highlights was added with three new products in its product offering. The three products are 1) China Food and Beverage Tours, 2) Shopping Tours, and 3) Temple and Scenic Tours. The unique feature of these tours is that they all focus on Chinese culture, history, and food. These tours will be a great addition to our existing offerings, which already cover over 30 destinations across mainland China, Hong Kong, Taiwan, and Macau.
Scope of Report
|
Attribute |
Details |
|
Market Estimated Size (2022) |
US$ 184,201 Million |
|
Market Projected Size (2032) |
US$ 690,719 Million |
|
Value-based CAGR (2022 to 2032) |
14.1% |
|
Forecast Period |
2022 to 2032 |
|
Historical Data Available for |
2017 to 2021 |
|
Market Analysis |
US$ Million for Value |
|
Key Regions Covered |
Asia |
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Key Countries Covered |
China |
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Key Segments Covered |
Tourism type, Age Group, Booking channel, Tour type. |
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Key Companies Profiled |
|
|
Report Coverage |
Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
China Outbound Tourism Market by Category
By Purpose:
- Business
- Leisure
- VFR
- Others
By Booking Channel:
- Phone Booking
- Online Booking
- In Person Booking
By Tour Type:
- Independent Traveler
- Tour Group
- Package Traveller
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 56-65 Years
- 66-75 Years
Frequently Asked Questions
What is the current China Outbound tourism market value?
The current China Outbound Tourism market has reached a valuation of US$ 184,201 Million in 2022.
What is the forecasted growth rate for the China Outbound Tourism market?
The China Outbound Tourism market is currently forecasted to grow at a rate of 14.1% CAGR during the forecast period.
What are the key trends driving China Outbound tourism?
Growing urbanization with growth in the Chinese economy is fuelling China Outbound Tourism Market.
Who are the leading players in the China Outbound tourism market?
Leading players in The China Outbound Tourism Market are Tuniu Corporation, Intrepid Travel, G Adventures, TUI China, China Highlights, Exodus Travel, The Dragon Trip, World Expeditions, On The Go Tours, Contiki, Sita World Tours among others.
Which are the most preferred travel destination in the China outbound tourism market?
As per FMI, the USA, Korea, Germany, Australia, and the United Kingdom are expected to be the most preferred locations for travelers.
Table of Content
1. Executive Summary | China Outbound Travel Market 1.1. Global Market Outlook 1.1.1. Who Is Travelling? 1.1.2. How Much Do They Spend? 1.1.3. Direct Contribution of Tourism To GDP 1.1.4. Direct Contribution of Tourism To Employment 1.2. Tourism Evolution Analysis 1.3. FMI Analysis and Recommendations 2. Market Introduction 2.1. Total Spending (US$ Million) and Forecast (2022 to 2032) 2.2. Number of Travelers (Million) and Forecast (2022 to 2032) 2.3. Total Spending Y-o-Y Growth Projections (2022 to 2032) 2.4. Number of Travelers Y-o-Y Growth Projections 3. Global Tourism Industry Analysis 3.1. Tourism Industry Overview 3.1.1. Travel & Tourism Industry Contribution To Global GDP 3.1.1.1. Business Spending v/s Leisure Spending 3.1.1.2. Domestic v/s Foreign 3.1.1.3. Direct, Indirect, and Induced 3.1.2. Travel Sector Contribution To Global Overall Employment 3.1.3. Travel & Tourism Growth Rate 3.1.4. Foreign Visitor Exports As Percentage of Total Exports 3.1.5. Capital Investment In Travel & Tourism Industry 3.1.6. Different Components of Travel & Tourism 3.1.7. Global Tourism Industry Outlook 3.1.7.1. Cultural Tourism 3.1.7.2. Culinary Tourism 3.1.7.3. Eco/Sustainable Tourism 3.1.7.4. Sports Tourism 3.1.7.5. Spiritual Tourism 3.1.7.6. Wellness Tourism 3.1.7.7. Others 4. China Outbound Tourism Market Dynamics 4.1. Market Drivers & Opportunities 4.1.1. Growth in the Chinese Economy 4.1.2. Increasing Urbanisation of Chinese territories 5. Market Background 5.1. Top 10 China Outbound Tourism Market Companies 5.2. Macro-Economic Factors 5.2.1. GDP Growth Outlook 5.2.2. Industry Value Added 5.2.3. Consumer Spending Outlook 5.2.4. Direct contribution of Travel & Tourism to GDP 5.2.5. Visitor Exports and International Tourist Arrivals 5.2.6. Capital Investment In Travel & Tourism 5.2.7. Top Tourism Spending Countries 5.3. Forecast Factors - Relevance & Impact 6. Categorizing of China Outbound Tourism Market 2021 6.1. Introduction/ Key Findings 6.2. Current Market Analysis By Purpose (% of Demand) 6.2.1. Business 6.2.2. Leisure 6.2.3. VFR 6.2.4. Others 6.3. Current Market Analysis By Booking Channel (% of Demand) 6.3.1. Phone Booking 6.3.2. Online Booking 6.3.3. Direct Booking 6.4. Current Market Analysis By Tour Type (% of Demand) 6.4.1. Independent Traveller 6.4.2. Tour Group 6.4.3. Package Traveller 6.5. Current Market Analysis By Age Group (% of Demand) 6.5.1. 15-25 Years 6.5.2. 26-35 Years 6.5.3. 36-45 Years 6.5.4. 46-55 Years 6.5.5. 56-65 years 6.5.6. 66-75 Years 6.6. Key Findings, By Each Category 7. Competition Analysis 7.1. Competition Dashboard 7.2. Competition Benchmarking 7.3. Competition Deep Dive 7.3.1. Tuniu Corporation 7.3.1.1. Overview 7.3.1.2. Service Portfolio 7.3.1.3. Strategy Overview/campaigns 7.3.2. Intrepid Travel 7.3.2.1. Overview 7.3.2.2. Service Portfolio 7.3.2.3. Strategy Overview/campaigns 7.3.3. G Adventures 7.3.3.1. Overview 7.3.3.2. Service Portfolio 7.3.3.3. Strategy Overview/campaigns 7.3.4. TUI China 7.3.4.1. Overview 7.3.4.2. Service Portfolio 7.3.4.3. Strategy Overview/campaigns 7.3.5. China Highlights 7.3.5.1. Overview 7.3.5.2. Service Portfolio 7.3.5.3. Strategy Overview/campaigns 7.3.6. Exodus Travel 7.3.6.1. Overview 7.3.6.2. Service Portfolio 7.3.6.3. Strategy Overview/campaigns 7.3.7. The Dragon Trip 7.3.7.1. Overview 7.3.7.2. Service Portfolio 7.3.7.3. Strategy Overview/campaigns 7.3.8. World Expeditions 7.3.8.1. Overview 7.3.8.2. Service Portfolio 7.3.8.3. Strategy Overview/campaigns 7.3.9. On The Go Tours 7.3.9.1. Overview 7.3.9.2. Service Portfolio 7.3.9.3. Strategy Overview/campaigns 7.3.10. Contiki 7.3.10.1. Overview 7.3.10.2. Service Portfolio 7.3.10.3. Strategy Overview/campaigns 7.3.11. Sita World Tours 7.3.11.1. Overview 7.3.11.2. Service Portfolio 7.3.11.3. Strategy Overview/campaigns 7.3.12. Others (as per request) 7.4. Social Media Platforms Preferred 7.4.1. Facebook 7.4.2. YouTube 7.4.3. Instagram 7.4.4. Twitter 7.4.5. LinkedIn 7.4.6. Pinterest 7.4.7. Google+ 7.4.8. Others 7.5. Perceptions of the Proposed Bicycle Sector Tour Package 7.6. Consumer Perception for Destinations On Social Media Platforms-Positive and Negative Mentions 7.7. Trending #Hashtags 7.8. Social Media Platform Mentions (% of Total Mentions) 7.9. Region-Wise Social Media Mentions (% of Total Mentions) 7.10. Trending Subject Titles 8. Assumptions and Acronyms Used 9. Research Methodology
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